Japan's foreign reserves down to 977 billion dollars in October

Business Materials 10 November 2008 08:46 (UTC +04:00)

Japan's foreign reserves totaled 977.72 billion dollars in October, down 18.17 billion dollars from the previous month, the Finance Ministry said Monday, according to dpa.

Japan held 853.02 billion dollars in foreign securities and 102.05 billion dollars in foreign currency deposits at the end of October.

Foreign reserves shrank as Japan's euro-based assets declined as the currency's value fell against the dollar, amid spreading fear over the global financial crisis, Japanese media said.

The nation had 6.51 billion dollars of the deposits in foreign central banks and the Basle-based Bank for International Settlements, 21.67 billion dollars in Japanese banks and 73.86 billion dollars in foreign financial institutions.

Gold reserves came to 17.98 billion dollars.

Japan held 1.42 billion dollars in IMF reserve positions and 2.91 billion dollars in IMF special drawing rights.

Other reserve assets came to 345 million dollars in October.

Japan's foreign exchange reserves consist mainly of securities and deposits denominated in foreign currencies, IMF reserve positions and special drawing rights, and gold.